Bids and winning contracts tougher than ever post-Covid
David McCormack, CEO HIVE360, looks at how recruiters can stand out from the crowd in today’s new world of work.
Today’s remote and hybrid working models look set to stay. The pandemic has proved workers can do their job from almost anywhere in the world, which has created an expanded candidate talent pool – but also a more competitive marketplace for bids and contracts for recruitment businesses. David McCormack, CEO HIVE360, looks at how recruiters can stand out from the crowd in today’s new world of work.
COVID-19 has changed how and where we work, with businesses now confident that worker productivity is unaffected, and often even boosted when workers are home- or remote-working.
Hybrid working models and flexible working hours could be said to be the norm. A workers’ location for many roles is no longer a deal-breaker, and so the talent pool has widened, but choice and opportunities have shifted in such a way that candidates are now gaining greater control.
Talent attraction in the new world of work
To respond to this shift, employers must revisit talent attraction and recruitment strategies by looking at the value-added benefits, and more especially wellbeing support.
The recruitment sector must also adapt, to demonstrate to clients and candidates that it understands talent recruitment and retention strategies are needing to evolve, and the importance of talent mobility and development, wellbeing and benefits.
Increasingly, talented candidates are seeking organisations that align with their values, visions and goals. At one time, they were driven mostly by financial reward, but nowadays want to be part of a company with a strong employer brand, with a commitment to workers’ wellbeing, flexible working arrangements, learning and development.
A robust employee/candidate engagement strategy helps workers feel valued and supported, has a positive effect on talent retention, and reduces the time spent resolving candidate issues, absenteeism, or poor performance. Ongoing research by global analytics and advice firm Gallup consistently finds that companies with a human-centred culture are in the top quartile of employee engagement, experience 81% lower absenteeism, 18% less turnover, and 23% higher profitability.
Onboarding and career progression, reward and recognition policies, training and development, employee benefits, work:life balance initiatives, financial and mental health and wellbeing support are essential components of an effective employee engagement strategy.
Together, they improve and maintain a positive working environment for recruiters’ own employees, and the valued candidate workforce – and for recruitment businesses looking to secure large PSL contracts, can set them apart from the competition during the intense scrutiny of the tendering process.
Benefits on the go
A new report (Gallagher’s Benefits Strategy & Benchmarking Survey 2020) confirms and highlights the need for UK employers to enhance their benefits packages and improve internal communications. It states that ‘benefits are widely seen as a crucial element of the Employee Value Proposition (EVP) and worthy of investment’.
Health and wellbeing benefits are quickly becoming a ‘must have’ rather than a ‘nice to have’. Growing numbers of workers (permanent and temporary) are actively seeking a positive work / life experience from an employer providing support to achieve it.
HIVE360’s solutions deliver incentives and support for employees, temporary workers and candidates, including employee benefits delivered via our unique, customisable engagement app Engage.
We know many businesses are facing financial challenges, and so recruiters have access to the platform as part of our outsourced payroll solution, at a time when many businesses are facing financial challenges, we ensure maximum ROI, so that their own people and candidates have access to a range of health and wellbeing benefits and services, including:
- 24/7, confidential access to mental health support, counsellors (EAP program)
- personal doctor, access to medical specialists, and carer support helpline,
- gym memberships, high-street, lifestyle, dining and insurance discounts,
- a training platform.
HIVE360 is an outsourced payroll and benefits expert, working across all sectors, including recruitment businesses and agents governed by the GLAA. It is an expert in PAYE payroll, wellbeing and benefits provision, and is championing a new model of employment administration and redefining employment and pension administration processing.